Virginia taxable income of residents; reorganization of additions, subtractions, and deductions. (SB912)

Introduced By

Progress

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Introduced

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Passed Committee

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Passed House

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Passed Senate

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Signed by Governor

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Became Law

Description

Virginia taxable income of residents; reorganization of additions, subtractions, and deductions. Reorganizes the provisions of the Code of Virginia related to the calculation of Virginia taxable income of residents. Current law sets out the additions, subtractions, deductions, and other modifications in one lengthy section. The reorganization creates four new, smaller sections for additions, subtractions, deductions, and other modifications, respectively, but does not make any substantive changes to the calculation of Virginia taxable income. The bill contains numerous technical amendments. The bill is a recommendation of the Virginia Code Commission. Read the Bill »